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. they seem desperate to do that. plenty of liberals say, go over the cliff. big cuts in the pentagon and big tax hikes. the white house, from all indications that i've seen, they don't want that to happen. they are scared of what could happen to the markets. >> why aren't they dalg dealing with boehner? dana, be go ahead. jumpb in here. >> i think they won their negotiating power once boehner last week failed. as dana pushed out, the only thing that can get boehner is to do something. >> reporter: i think that you're right when i said that democrats don't think that the president will have much political damage. that does seem to be coming more from democrats here in congress than in the white house. democrats here in congress feel that it's a win-win for them politically. the one thing i will tell you very quickly, the pushback on this narrative that i heard from senate republican leader in the hallway. he said, do you remember who the speaker was during the hoover administration? i said, no. he said, that's my point. nobody will remember who the speaker was if ge into a recession but it's
part of some last-second deal. hit the defense department. but the pentagon's real problem is not those cuts, but the ones that are going to be coming over the next decade. we talked to military contractors, top officials at the pentagon. they see a long period of downward decline. that after the war in afghanistan, there's going to be a period of austerity. they're calling it -- they have a term around the pentagon, a very graphic self-amputation as they cut back over the years. and this was one of the reasons that president obama had, at the top of his short list, the former republican senator, still a republican, chuck hagel of nebraska. he's somebody who's talked about the pentagon as being bloated, had very specific ideas about how to cut it. but mike, sam, the table, we're hearing that that trial balloon has been popped. that senator hagel has a possibility for secretary of defense, has really lost a lot of altitude. and what they discovered was, there's not a natural constituency for him. republicans, as you guys know, have fought with him over the years. he was against the war i
, the massive amount of spending cuts that will kick in at the beginning of the year to harm the pentagon and other agencies. if they are getting anything, there are low expectations but if they get anything it will be a very small deal, something much smaller than they have been talking about for weeks, jon. jon: there aren't too many people these meetings. so a little hard to get an assessment, what is your idea, what is your best, yeah, assessment i guess how things are between some of these leaders? >> reporter: they have gotten pretty tense the last couple of days as they have come back from the christmas holiday. we saw yesterday senate majority leader harry reid basically accusing john boehner of running a deck tate toreship, that was his word in the house of representatives. reid piled on a little bit late yesterday afternoon and senate republican leader mitch mcconnell responded. take a listen. >> speaker boehner should call members of the house back to washington today. he shouldn't have let them two in fact. they're not here. they're not here. john boehner seeps to care more ab
their budgets cut, depending whether it the pentagon or other agencies. the agencies can try to shield some programs for others. social security benefits are not going to be cut. the pay for pentagon officials is not going to be cut. if this drags on into march or april, they will have to do furloughs, is essentially giving people vacations. host: the headline from "the wall street journal." is that one way to do that? guest: that is a painful way to do that. when people do not have money to spend, the economy is not going to grow. if this goes on for a couple of days and the stock market falls dramatically, congress and the white house may be able to avoid some of the long-term consequences. if everybody digs end, more disasters things could take hold. host: the president, vice president, speaker of the house, democratic leader of the house, will be meeting today. from the reporting you have done, what will be happening? guest: they could sit down and cut a deal in five minutes. they know all the issues. they know where their parties are. they could sit down in five minutes, shaking hands,
game is down right nasty. >>> tributes from the pentagon, white house, and gulf war buddies after the passing of stormin general norman schwarzkopf. and teachers learning how to shoot in case a gunman walks into their classroom. the man offering lessons were free. "starting point" begins right now. friday, december 28th. and our starting point, the pace in's economy and your take home pay on the chopping block. four days remain before the u.s. goes over the edge. that means tax hikes and spending cuts that could trigger another recession. congressional leaders will meet today at 3:00 p.m. eastern time. the full house not even expected to return to work until sunday. here is the guest list for today's showdown. the president, vice president biden, senate majority leader harry reid and house minority leader nancy pelosi on the democratic side. house speaker john boehner, mitch mcconnell representing the republicans. brianna keilar live from washington. what do we expect to happen today? any new offers from the president or house speaker? >> we don't know. right now, all eyes on the
the impact on the military overall will be, quote, very serious. >> the pentagon and the departments are already in financial trouble, because there has already been a $480 billion cut that is being applied right now as we speak. to take another cut on top of that is devastating. >> reporter: it's not just the military itself that will take a hit, also the defense industry, defense contractors, private companies that do work for the pentagon. one democratic congressman in northern virginia whose district maybe hit the hardest by all of this says it could mean layoffs. >> the large defense contractors will probably be okay, they have significant cash reserves, most of them. the smaller contractors would have trouble getting their lines of credit extended, trouble keeping their employees, if they can't be assured of continued employment. >> reporter: congressman moran says if we go over the cliff, which he thinks we will, then the impact and severity of the automatic defense spending cuts depend how long they are in place into the new year before congress finally fixes this fiscal clif
who are very upset with the cuts that would hit the pentagon. it may be difficult to rally republican votes of the cannot turn off the sequester. on the democratic side, the estate tax could be a problem. the republicans are insistent that the estate tax stay at current levels, which is exempting the state of $55 million at a relatively late 35% above that level. many democrats would like to see -- in january it is expected to come -- taxes are expected to go up dramatically. as small as $1 million would be taxed. most democrats want to see something in the metal. they are adamant that we cannot exempt states as large as $5 million. that could be another sticking point. >> do we expect anything going on today? if not, what is the earliest of the senators will come back in for session tomorrow? caller: i think the senate is due back in at 1:00. the house is due at 6:30. the house is the big question mark here. it is very difficult to imagine what could pass the house. as for today, that is an excellent question. the senate is not in here the house is not an. my understanding as we are
at the pentagon. barba barbara, a great guy, but really great in front of the camera and able to use visuals of the first war to really explain to the american people what was going on. >> well, explain to the american people, and he also knew that saddam hussein and his iraqi generals were watching those press briefings. president obama today remembering norman schwarzkopf as an american original. a limited mission, get the iraqis out of kuwait, get the war done, go home. and he accomplish thad in des rt storm, commanding more than 700,000 coalition forces, more than 500,000 americans and an air and grown campaign that lasted barely 100 hours, and then it was done. his own chief, former president george h.w. bush, issuing a statement from his hospital bed in houston, saying "general norm schwarz cough, to me, epit to mized the duty, service, country creed that has defended our k e freedom and seen this nation through our most trying international crises, and more than that, he was a good and decent man." that from former president george h.w. bush. he is remembered for his fiery temper, bu
over its price. but lockheed and the pentagon have come to terms to buy another round of the jets for nearly $4 billion. morgan stanley calls the f-35 the single most important investment debate over lockheed stock. second, cash will be king. as defense spending slows, analysts say many defense companies will reduce share buyback programs and conservative capital. and look to international customers to make up for lost business at home. third, it's a bird, it's a plane, it's big brother. as criticism rises over the use of drone strikes by the obama administration, look to see companies launching drone war at home for deals to build unmanned aircraft for domestic use. the faa says there could be 30,000 uavs in u.s. skies by 2020. the teal group says domestic drones could be worth $89 billion over ten years, as everyone from homeland security to tmz wants permission to use them. >>> let's get some more insight on the defense skprkt how to play it as the fiscal cliff deadline grows closer. howard rubel is with jeffries. great to speak with you. and i guess key to understanding the im
Search Results 0 to 8 of about 9

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